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We are a team of programmers with over 5 years. Billionaire Bitcoin inventor known asSatoshi Nakamoto' reveals. Dr Wright was unofficially named as the founder in a report released at the end of last year and the 45 year old has now outed himself publicly for the first time.

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How bitcoin mining works The Economist explains 20. The aim of bitcoin as envisaged by Satoshi Nakamoto, its elusive creator is to provide a way to exchange tokens of value online without having to rely on centralised intermediaries, such as banks.

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Instead the necessary record keeping is decentralised into ablockchain, an ever expanding ledger that. Beware of these Five Bitcoin Scams.

Bitcoin scams are often initially promoted in online forums or chat rooms, with promoters creating an elaborate front to convince investors they are legitimate. The following are five of the most common scams involving bitcoin: 1.